Companies that outsource payroll administration can save up to 20% in costs. Additionally, they gain instant access to expert know-how that would take them years to build internally.
Some areas of business management require a high level of expertise, meaning that relying solely on internal resources can ultimately be costly—whether in terms of time, money, or human potential. So where is it worth bringing in external experts who not only reduce costs but also help companies make better strategic decisions? ASB Group, a consulting firm operating in four European markets, has identified key areas where companies most frequently lose money. These are the areas where you can gain a competitive edge by optimizing processes and minimising the risk of financial loss.
Financial Management Technologies That Save Companies Money and CFOs Their Sanity
Automation and digitisation of financial processes are not just trendy buzzwords—they are the key to speed, accuracy, and significant cost savings. Modern accounting systems and invoice processing tools eliminate errors, speed up routine tasks, and give CFOs the space to focus on strategic company management, leading to greater efficiency and near-zero error rates.
"CFOs need reliable data—high-quality reports are crucial for key business decisions, cash flow management, cost optimisation and risk management. However, many companies still operate without systems that provide them with relevant data," says Dan Ledvinka from ASB Group. According to him, the solution is not to build a new internal team but rather to outsource and effectively leverage external partners with proven know-how. That means experts with years of experience, ideally across various industries. It would take many companies years to internally reach the same level of quality and speed that an external specialised firm can guarantee.
50 Legislative Changes Per Year? Payroll Outsourcing as a Lifesaver
Payroll and tax administration are among the most heavily regulated areas, posing constant challenges and pressure for HR directors. In 2024 alone, more than 50 amendments to labour laws and employee benefits regulations were introduced in the Czech Republic. Companies relying solely on their internal teams not only risk inefficiencies but also face hefty fines—according to the Czech Social Security Administration, fines imposed in 2023 exceeded CZK 200 million.
"It’s understandable that HR teams don't have the capacity to track every legislative update. But missing one can have serious financial consequences. That’s why we help companies by taking over their entire payroll and tax agenda—our experts know the regulations inside out and monitor all legislative changes for them," explains Dan.
Beyond mitigating risks, payroll outsourcing also reduces costs—according to a Eurostat study, companies that delegate payroll processing have up to 20% lower payroll administration costs than those handling it in-house. And just like in financial management, technology plays a crucial role here as well. Thanks to its technological tools and in-house expertise, ASB’s payroll team processed over 155,000 payslips last year.
When Over 60% of Acquisitions Don’t Go as Planned
Few companies in the Czech Republic deal with acquisitions or business sales on a daily basis. Yet, these are complex processes where even a small mistake can result in significant financial losses. Without accurate financial data, companies can easily misvalue an acquisition target, overlook critical risks and ultimately lose money on the deal.
"It’s no secret that most acquisitions run into problems without expert advisory. Estimates suggest that up to two-thirds of deals face challenges," says Dan Ledvinka. The key to success, according to him, is thorough financial and tax due diligence, which—when combined with legal reviews or technical inspections for real estate—helps investment teams make informed decisions and avoid unpleasant surprises. ASB’s team brings hands-on experience to the table, having participated in nearly 40 transaction projects in the Czech Republic alone last year.
20 Years of Experience: From Prague to the Epicentre of European Business
ASB Group is built on more than 20 years of experience in Central and Eastern European markets. What started as a local player in Prague in 2002 has grown into a consulting firm operating in four European countries, employing over 450 finance, accounting, tax, and payroll experts. Today, ASB supports businesses in 41 countries, not only with daily operations but also with key strategic decisions. It is one of the few privately owned consulting firms in Central and Eastern Europe, which gives it valuable flexibility, business acumen, and a deep understanding of what it means to run a company. Thanks to long-standing partnerships in London, Luxembourg, and other European financial hubs, as well as membership in a global network of independent accounting firms, ASB allows Czech clients to tap into global opportunities and capital. Its modus operandi is not just to respond to clients' current needs but to anticipate where business is heading next.
One of ASB’s leading figures is Dan Ledvinka, whose approach to consulting is based on openness, systematic thinking, and the ability to identify new opportunities. He focuses on foreign investors, giving him insight into market dynamics and how innovation reshapes traditional processes. "The goal is to start doing things that haven’t been done before in consulting and to seek innovations with practical benefits for clients," he says. Under his commercial leadership, ASB keeps pace with an evolving business environment while actively reshaping traditional practices and connecting industries to give clients a true competitive advantage.
